Used Cooking Oil Market is projected to grow at a CAGR of 3.3% over the forecast period. Used cooking oil are once used for cooking or frying the food items. These used cooking oil are collected and further brought into various use. This is a best example for waste management brought into effect.
European countries are leading the market of used cooking oil and expected to grow over the forecast period 2017-2023. Increasing awareness towards environment friendly products have propelled the demand for biofuel consumption, which has surged the intake of used cooking oil in the market. This growth has been supported by favorable regulations applicable in the region focusing on clean energy.
Moreover, the regulations from European Government, which emphasis on reducing imports of meat & increase home production is expected to give boost to livestock industry, resulting in increased application of used cooking oil as animal feed additive. Additionally, rise in processed meat industry backed up with increasing demand for quality meat is adding fuel to the European market of used cooking oil. All these factors will lead to growth of European used cooking oil market at a CAGR of 3.3% during the forecast period 2017-2023.
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Major Key Players:
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major used cooking oil market players. It further includes product portfolios, developments of leading players, which includes
- Baker Commodities Inc. (U.S.)
- Argent Energy (U.K.)
- Darling Ingredients (U.S.)
- Greenergy International Ltd (U.K.)
- Olleco (U.K.)
- Uptown Biodiesel Limited (U.K.)
- Proper Oils (U.K.)
- Used cooking oil (UCO) is segmented on the basis of sources such as food manufacturers, restaurants, caterers, household, and others. Among all, food manufacturers are dominating the market. However, restaurants are expected to surge the market based on inclination of biofuel manufacturers towards restaurants as a major source of collecting used cooking oil.
- Based on the application, the used cooking oil market is segmented into biodiesel, animal feed, oleo chemicals, and others. Biodiesel share the major portion of used cooking oil market.
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- The global used cooking oil (UCO) market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Among all, Europe dominates the market of used cooking oil followed by South America. Europe regulations have encouraged strong biodiesel production growth, which has increased the demand for used cooking oil. Moreover, increased awareness among consumers about animal protein have supplemented the growth of used cooking oil in this region.
Furthermore, North America is expected to grow over the forecast period owing to its increasing consumption of used cooking oil in biofuel production. Moreover, Asia Pacific is projecting growth in developing countries like India and China. However, due to lack of awareness, a negligible growth is observed in this region. From rest of the world, UAE is expected to project application of used cooking oil in the production of biodiesel